Qualcomm: Will Continue to Cooperate with China's Investigation
Sina Tech, 12/13/13
US chipmaker Qualcomm has issued a statement in response to comments made to China Daily by a member of China's National Development and Reform Commission (NDRC), revealing that the NDRC has gathered a substantial amount of evidence implicating Qualcomm in monopolistic activities. Qualcomm has stated that the company will continue to cooperate fully with the NDRC and looks forward to meeting with the agency. Qualcomm believes that its business practices are legal and beneficial to competition, according to the statement.
Editor's Note: Qualcomm's global revenues totaled USD 24.9 bln in the first 9 months of 2013, of which, 49%, or USD 12.3 bln, came from China. If the NDRC's investigation confirms the monopoly charges against Qualcomm, the company could face fines of up to USD 1.2 bln. For more background on this topic, please see "NDRC Claims to Have Evidence of Qualcomm Price-fixing" MD 12/12/13 issue and "Qualcomm Faces Anti-Monopoly Investigation in China" MD 11/25/13 issue.
Keywords: regulation antitrust penalty wireless Qualcomm NDRC chipmaker revenue handset chip
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